GENEROSIT Y
M U LT I P L I E D
COMMUNITIES FOUNDATION of TEX A S 2015 ANNUAL REPORT
G EN ERO S I T Y
X M U LT I P L I ED
One generous soul can change the lives of everyone she touches. Many generous souls, working for a common good, can change the future. At Communities Foundation of Texas, boosting the impact of charitable organizations and people is in our DNA . Our resources and guidance allow donors to heighten their outcomes exponentially. Not just to meet today’s pressing needs, but tomorrow’s. Not just to influence this generation, but generations to come. There is nothing mysterious about how we amplify your impact. It’s a simple formula. We take a community problem that cries out for a solution. Add strategic partnerships that maximize collaboration. Factor in game-changing investments that target root causes while meeting immediate needs. Continually expand the pool of donors and the tools they’re given to work with. Weigh every action by its value to the greater community to gain practical wisdom with each step. And, finally, act as both a trusted philanthropic advisor and a catalyst for change. We were created to do good. When we work together, we can be great. By pairing the generosity of donors with our ability to multiply their gifts, the positive effects we can bring to our community are immeasurable.
2015 ANNUAL REPORT
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Scott Sweet was just a second-grader when he was severely burned by a live wire. He spent countless days in the hospital and still remembers the sadness of missed recesses and feeling isolated from his schoolmates. But the care he received made a lasting impression, inspiring him and his wife Cathy to help other children dealing with similar medical crises.
H EL P I N G
Scott and Cathy established the Sweet Life Fund at Communities Foundation of Texas, and the first grant they made was to Parkland Foundation. Through this grant, they started the Scott and Cathy Sweet Endowment to benefit Parkland’s Burn Center to support, enhance and improve the recovery of burn patients. And while Scott and Cathy would love to see the rooms on that floor empty, they know their partnership with CFT will continue to provide lasting care for current and future patients.
HAN SCOT T SWEE T
Endowment for Parkland Burn Center
SW EET LIFE FUND 2
2015 ANNUAL REPORT
a t CO M M U N I T I E S FO U N DAT I O N o f T E X A S
NDS
FUE
Debra Brennan Tagg is a financial planner. Paul Tagg is an estate planning attorney. They’re well aware of the value of philanthropic investments. But they also know that charitable acts can spark a life of giving in younger generations. That’s why they started the Tagg Family Fund at Communities Foundation of Texas.
LING
PHIL ANTHROPY A service day filling backpacks at North Texas Food Bank, arranged by CFT for Debra’s company, turned out to be so rewarding that the Taggs were inspired to create a philanthropic plan for their own family. Now, while Debra and Paul are helping their clients find the best outlets for their donations, they know that they’re also passing on a philanthropic spirit that will nurture a lifetime of generosity in their children. PAU L & D E B R A
With their children, Liam and Harper
TAGG FA MILY FUND a t CO M M U N I T I E S FO U N DAT I O N o f T E X A S
2015 ANNUAL REPORT
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In corporate philanthropy, Neiman Marcus has an ear for youth arts education. Research has shown that students receiving arts training graduate at higher rates, score higher on the SAT, are better creative problem solvers and become engaged civic leaders. The Heart of Neiman Marcus Foundation Fund at CFT was established to strategically invest in organizations providing support for arts education for underserved youth. Last year, one of the grantees supported was the Dallas Symphony Orchestra’s Young Strings program, which discovers and develops the talent of young African American and Latino string players.
G I F T ED
MU
CFT is proud to partner with Neiman Marcus through various funds
for their corporate philanthropy. To date, Neiman Marcus has provided over $10 million in grants for disaster relief, youth arts education, associate financial assistance and other charitable efforts. One of Neiman Marcus’ core organizational values is “Be All Heart.” By partnering with CFT, they have ensured that their philanthropic heart will continue to beat stronger than ever.
R A C H E L & YA S M I N E
Dallas Symphony Orchestra Young Strings
HE A RT OF NEIM A N M A RCUS FOUNDATION FUND 6
2015 ANNUAL REPORT
a t CO M M U N I T I E S FO U N DAT I O N o f T E X A S
SICIANS
Angie Dickson spent her childhood on her family’s ranch in West Texas. As an adult, she built a successful career in finance, but she felt a strong calling to give back. So she turned to CFT to help establish a fund that could accept gifts for Kids on the Land, a nonprofit that she formed with her mother, Katherine Dickson, and Peggy Maddox. Partnering with local landowners, schools and government organizations, this unique program teaches elementary school children about the natural resources in their own region.
E X PA N D I N G
HO
Communities Foundation of Texas invited Angie to share her experience as a philanthropist and Kids on the Land co-founder with CFT ’s 2015 GiveWisely class, which is designed for those wanting to sharpen their giving strategies. During the class, she met a couple who were so moved by her passion for the environment that they chose to give their GiveWisely donation to Kids on the Land—planting seeds for the sustainable future of Angie’s passion and the students she serves.
ANGIE DICKSON
Co-founder
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2015 ANNUAL REPORT
K IDS ON THE L A ND
R I ZO N S
SUPP
ORT
Eric MacFarlane was a successful electrician. But his career came to a halt when a serious car wreck left him injured and out of a job. He turned to Metrocrest Services, whose mission is to help people in crisis get back on their feet and sustain their independence. There he got financial coaching and employment counseling, which led to his acceptance into a local nonprofit IT training program. Finishing near the top of his class, Eric landed a job immediately after his certification. Now he works with Microsoft and continues to work with his coach at Metrocrest to build his financial future.
N E T WO R K
PAT R I C I A G R A N A D O S & E R I C M AC FA R L A N E
Eric’s employment success was partly the result of a partnership between Metrocrest and Communities Foundation of Texas through its Working Families Success program. Through WFS, participating organizations receive tools and knowledge to help their clients overcome barriers to achieve long-term financial stability. Collaborations like these magnify the impact of nonprofits, scaling best practices for far-reaching effects.
Financial Coach & Metrocrest Services Program Participant
WOR K ING FA MILY SUCCESS CENTER a t CO M M U N I T I E S FO U N DAT I O N o f T E X A S
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A MPLIF Y ING IMPAC T Letter From the President & CEO
“X” does a lot of things. It marks the spot. It’s a type of ray that gives doctors a picture of your bones or your teeth. As a letter, it gets you a whopping 8 points in Scrabble! But maybe its best use is on a calculator. Because “X” is used in math to symbolize multiplication: the process of increasing things many times faster than simply adding them together once. It gives a huge boost. When Al Meadows gave the original gift of $10,000 in stock to start the Dallas Community Chest Trust Fund, which would one day become Communities Foundation of Texas, he had to be thinking about that kind of boost. He and the other business leaders who came together realized that no one alone had the resources to do everything Dallas needed. They needed an X Factor. They needed a multiplier. They saw that by working together to pool resources, and by leveraging knowledge, talent, money, leadership and relationships—it is possible to multiply good. That’s the whole idea behind CFT. We’re here to boost philanthropy to new heights (like the grantmaking through CFT that just reached an all-time high). In doing so, more positive change is created in the lives of more people than otherwise would have been possible. The stories inside this report will tell you how that happened in the past year. Maybe they will inspire you for the year ahead too. The magic comes from the combination. We don’t do it on our own. We do it together. 12
2015 ANNUAL REPORT
Brent E. Christopher PRE S ID ENT & CEO
ONE
Hub for philanthropy
900+
3,500+
Named charitable funds at Communities Foundation of Texas
Nonprofit grantees and partner organizations
COUNTLESS
Lives improved in North Texas and beyond
TOTA L G R A N T S PA I D
(in millions, unaudited) Fiscal years ending June 30 $101
$79
$102
$76 $66
2015 FINANCIAL S
11
12
13
14
15
2015 GRANTS DISTRIBUTION
7% 3% 8%
Arts & Culture
Youth & Recreation
22% Education
Other
11%
Housing & Human Services
22%
12%
Health & Scientific Research
Community Improvement
15% Religion
TOTA L G I F T S R ECEI V ED
I N V E S TM E N T M A N A G E R S
2015 COMPOSITION OF GIFTS
(in millions, unaudited)
Aberdeen Asset Management PLC
(in millions, unaudited)
$134
BlackRock
47.6
BNY Mellon Cash Investment Strategies
Agency Funds
24.2
Brookfield Investment Management
Designated Funds
19.3
Burgundy Asset Management Ltd.
Donor-Advised Funds $98 $86 $73 $54
Discretionary 5.1
Cushing Asset Management
Other
Credit Suisse
TOTAL GIFTS
1.8 $98
Disciplined Growth Investors, Inc. Hotchkis and Wiley Capital Management, LLC State Street Global Advisors The Investment Fund for Foundations ( TIFF )
11
12
13
14
Trinity Street Asset Management
15
Western Asset Management Company William Blair Investment Management, LLC
ASSETS
2015 COMPOSITION OF ASSETS
(in millions, unaudited) $1,065 $1,067
(in millions, unaudited)
CUS TODIAN BNY Mellon
$982
$853 $801
$769
$754
$705
$700 $651
W.W. Caruth, Jr. Foundation
384.7
Donor-Advised Funds
319.9
Discretionary Funds
122.2
Designated Funds
86.6
Other Supporting Organizations
89.1
Nonprofit Agency Funds
34.0
Scholarship Funds
15.4
Charitable Remainder Trusts
8.0
General Operating Funds 06
07
08
09
10
11
12
13
14
15
TOTAL ASSETS
7.1 $1,067
LEG AL COUNSEL
K&L Gates LLP Thompson & Knight LLP
INDEPENDENT AUDITOR RSM
I N V E S TM E N T C O N S U LTA N T Segal Rogerscasey
For a listing of named funds at CFT and to review the annual independent audit report and the related audited consolidated financial statements with footnotes, please visit www.CFTexas.org. 2015 ANNUAL REPORT
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E XCEEDING E XPEC TATIONS
NORTH TEX AS GIVING DAY 2015
With your help, North Texas Giving Day raised $33 million for over 2,000 nonprofits in just 18 hours. Coming in at an amazing 110 gifts per minute, it was the largest total in the event’s history and a national record. The reach of donors’ generosity continues to expand as well, with gifts coming from all 50 states and 28 countries.
$14.4
$25.2 MILLION
$26.3
$33
MIL LION
MIL L ION
MILLION
$10.7 M ILLION
2011
Dallas County Donation Station at NorthPark Center featured free nonprofit performances
2012
2013
2014
N O R T H T E X A S G I V I N G DAY G R OW T H
2015
$33 M I LL I ON RAISED IN
ONE DAY
20 1 5 H I G H L I G H T S
118,663
2,022
Total number of donations made in 18 hours
Number of nonprofits receiving donations on North Texas Giving Day
Pictured at left: WFAA Daybreak featured North Texas Giving Day
128 Most nonprofits funded by one individual 2015 ANNUAL REPORT
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HIG HER DEG REE OF SUCCESS
Rio Grande Valley Sets High School Students on the Path to College Success
“All RGV learners will achieve a degree or credential that leads to a meaningful career.” In four counties within the Rio Grande Valley, the poorest region of Texas, CFT ’s Educate Texas leads RGV FOCUS—a collaborative impact initiative committed to ensuring all of the region’s learners achieve a degree or credential that leads to a meaningful career. Launched in 2012, RGV FOCUS engages a robust partnership of educators, community leaders, businesses, nonprofits, funders and policymakers who focus on collectively and consistently measuring key indicators in the education to workforce pipeline, identifying key strategies to improve these indicators, and determining how best to implement efforts for increasing postsecondary success. KE Y FISCAL YE AR 2015 ACCOMPLISHMENTS
Supported nearly 1,000 students across
Published the region’s first
Aligned five colleges and
7 campuses for the second annual
Baseline Report (in Spanish and English)
universities, 39 school districts and
Financial Aid Super Saturday
for publicly measuring education
more to create two common college prep
to workforce success
courses defined by HB5
ENLISTING VOLUNTEERS
EFNT’s Freedom Day—the Largest 9/11
Commemorative Service Event in Dallas
“Every single veteran and military family member who participates in Hooves for Heroes from this point forward will be touched by the mark you made.”
1 DAY of service
Jeff Hensley, Director of Clinical Services, Equest
On September 11th, Entrepreneurs For North Texas hosted its 14th annual Freedom Day, a community service event honoring those lives lost and changed by the tragic events of September 11, 2001. This year, EFNT deployed a massive troop of more than 750 member company volunteers who served side-by-side with over 150 active and veteran members of the military from the Dallas-Fort Worth area. In recognition of the courage and bravery of the men and women who fight for our freedom, EFNT dedicated this grand day of service to Equest and River Ranch Educational Charities, two organizations providing essential services to veterans and their families along with other members of our community. Volunteers laid stone paths, installed bleachers and irrigation, built raised garden beds, cleared trails and installed landscaping. Fourteen years ago, September 11 was a day of national tragedy. Since the first Freedom Day in 2002, it has become a day of triumph for EFNT member companies, veterans and our community.
750+
Volunteers from EFNT Member Companies
5,000+ Volunteer hours
2015 ANNUAL REPORT
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TRIPLING PROTEC TION FOR THE ELDERLY W.W. Caruth, Jr. Foundation Funds the Elder Financial Safety Center By the year 2030, the number of adults over 65 in Dallas County is expected to double to 470,000.* Their financial security is critically threatened by a perfect storm of issues around retirement assets, living costs, debt, frauds, scams, employment and public assistance. The Elder Financial Safety Center was created by The Senior Source, probate courts and DA’s office to increase the financial security of older adults by focusing on three areas: prevention, protection and prosecution. Will Caruth once said, “Without security of person and property, the other desired objectives are of no consequence.” By funding the Center, the Caruth Foundation is carrying on his legacy, offering a blanket of security to those who need it most.
PREVENTION Financial safety services including money management, fraud advocacy, budgeting, benefits counseling and employment services.
PROTECTION Guardianship services for those requiring protection and in-home monitoring of care.
PROSECUTION Investigation and prosecution of elder financial abuse and exploitation, and education and training for law enforcement. *US Census, 2010
SPOTLIGHTING POVERT Y
K ER A One Crisis Away—Highlighting Real People on the Edge
“Communities Foundation of Texas has been critical in helping us shine a light on the issue of asset poverty” Mary Anne Alhadeff, President & CEO of KERA
Thousands of North Texans live so close to the financial edge that a single life event—a layoff, health emergency or educational setback— could push them over. With CFT funding and encouragement, KERA created two awardwinning series about real people living on the brink: One Crisis Away: Living on the Financial Edge and One Crisis Away: Inside a Neighborhood. These KERA journalism projects are earning national recognition and spurring other cities to consider similar programs. President and CEO Mary Anne Alhadeff says, “The impact of the series continues to be felt, not only through the national attention it has received, but also through the personal connection it made—people were inspired to help because of the stories they saw and heard. The support from Communities Foundation of Texas has been critical in helping us shine a light on the issue of asset poverty and its effects on North Texas families and communities.”
BOARD OF TRUS TEES & LEG AL COUNSEL
Frank Risch
James E. Bass
Becky Bright
Brent Christopher
Alfreda Norman
Judith W. Gibbs
Frederick B. Hegi, Jr.
Kenneth Hersh
Board Chair Civic Leader
President Ojai Goliad, LLC
Civic Leader
President and CEO Communities Foundation of Texas
Senior Vice President Federal Reserve of Dallas
Civic Leader
Immediate Past Chair
Co-founder and CEO NGP Energy Capital Management
Jack M. Kinnebrew
Chris Kleinert
Bobby B. Lyle
John McStay
President and CEO Lyco Holdings, Inc.
John McStay and Associates
The Honorable Florence Shapiro
Karen Shuford
Hunt Consolidated Investments, LLP
Harold Montgomery
Carlos González Peña
Attorney Strasburger & Price, LLP
Chairman and CEO Calpian, Inc.
President and Founder Peña Search Consulting, LLC
Principal Wingate Partners
Former Texas State Senator
Civic Leader
CFT’s funds and underlying assets are governed by an independent board of trustees composed of respected
community leaders from diverse backgrounds. CFT board members are selected for their knowledge of community needs and for their professional expertise. The trustees’ charge is to understand donors’ interests and the roles of nonprofits, acting as stewards for more than 900 funds. Trustees serve without compensation and exercise final authority with regard to all CFT investments and charitable grants.
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Nicole G. Small
Ruth Sharp Altshuler
Vester T. Hughes, Jr.
President Lyda Hill Foundation
Ex-Officio, Chairman’s Circle
K&L Gates LLP
Civic Leader
2015 ANNUAL REPORT
Senior Tax Counsel
In addition to its board of trustees, CFT also has an advisory council that includes leaders from myriad businesses and civic and cultural organizations. Beyond generating public support for the foundation’s work, advisory council members provide educated and objective viewpoints that are valuable to CFT’s projects and endeavors. For a full listing of our advisory council, please visit www.CFTexas.org.
OUR TE A M L E A D ER S H I P Brent E. Christopher
President and Chief Executive Officer
Amanda Roberts
Executive Assistant to the President, CEO and CFO
FI N A N C E A N D A DM I N I S T R AT I O N Beth Bull
Senior Vice President and Chief Financial Officer
Investments and Accounting Josh Chastant
Investment Analyst
Brian Doyle
Vice President of Investments
Donna Langdon
Facilities and Administration
Sarah Higdon
Kirsten Delay
Kate Putney
Matt Allen
Claire Hodges
Denise Devora
Isaac Ricard
Beverly Garner
Geri Jacobs
Trevor Ferris
Esther Rodriguez
D’Etta Hughes
Sally Kurtz
Kelty Garbee
Andrew Scripps
Lisa Causey
Elizabeth Liser
Melba Garcia
Eugenio Longoria Saenz
Jenny Daugherty
April Lynch
Priscilla Aquino Garza
Teresa Pottorff
Carolyn Newham
Amy Groff
Policy Officer Public-Private Partnerships
Shelly Haines
PHIL ANTHROPY
Information Technology Director Facilities Director
Human Resources Director Meeting Coordinator Hospitality/Facilities Associate Human Resources Coordinator
Jessica Robinson
Administrative/HR Assistant
Ann Marie Warrick
Project Coordinator/HR-EFNT
Accounts Payable Administrator
R EL AT I O N S H I P S
Bobby Lewellen
Susan Swan Smith
Accounting Manager
Jennifer Parkinen Investment Assistant
Ruth Polanco
Senior Accounts Payable Administrator
Sylvia Sanchez
Accounting Assistant
Leigh Schaefers
Special Asset Manager
Kristine Thomas
Vice President, Accounting
Chief Relationship Officer
Amelia Barber
Donor Initiatives Officer
Leslie Chatman
NTGD Data Project Coordinator
Yvette Elkins
Data Integrity Manager
Carol Pierce Goglia
Marketing and Communications Director
Karen Gutierrez
Data Management Director
Melissa Hardage
Donor Initiatives Officer
Abigail Hazlett
Projects Coordinator Design by O&H Brand Design Photography by Kim Ritzenthaler Leeson
Donor Relations Officer Marketing and Communications Manager Director of Charitable Gift Planning Palacios Area Fund Coordinator Donor Services Director Grants Associate Donor Relations & Fund Administration Director
Angela Woodson
Advisor Relations Officer
EN T R EP R EN EU R S FO R N O R T H T E X A S Catherine Cuellar Director
Sejal Desai
Education Pioneer Analyst Fellow Associate Program Officer Education Pioneer Program Analyst Associate Program Officer Administrative Assistant Policy and Advocacy Director of Finance Executive Assistant/Office Manager
Melissa Henderson Policy Officer
Susan Henderson Program Manager
Brandy Khamesi Team Assistant
Program Director
Kristin Kuhne
ED U C AT E T E X A S
Lora McKeown
John Fitzpatrick Executive Director
George Tang
Chief Operating Officer
Luzelma Canales
RGV FOCUS Executive Director
Chris Coxon
Chief Program Officer
Denise Davis
Associate Program Officer
Director of Insights & Analytics Accounting Assistant
David Patterson
Finance & Project Manager
Jennifer Pearson
Director of Development
Catherine Pena
i3 Project Manager
Program Management Associate Marketing and Communications Manager RGV FOCUS Project Manager Strategy Implementation Manager Director of Knowledge & Capacity, RGV FOCUS Project
Jarrad Toussant
Sarah Cotton Nelson
Chief Philanthropy Officer
Wende Burton
Community Philanthropy Director
Jennifer Clifford
Philanthropy Officer
Gillian Locke
Community Philanthropy Officer
Ashley McIver
Community Impact Project Coordinator
Lisa Pearrow
Executive Assistant
Lori Price
Community Impact Specialist
Stefanie Valenzuela
Philanthropy Operations Officer
Program Officer
W.W. C A R U T H , J R . FO U N DAT I O N
Nischal Prakash
Community Philanthropy Director
Reo Pruiett
Data Analyst
Monica Egert Smith
2015 ANNUAL REPORT
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Thanks to your collaborative spirit and generous giving, the potential for making our communities stronger appears to be infinite.
5500 Caruth Haven Lane Dallas, Texas 75225-8146 214.750.4222 Fax 214.750.4210 CF Texas.org | EdT X .org | EFNT.org | Nor thTexasGivingDay.org